March canola is up $4.10 per metric ton (mt), March soybean oil is up .47 cents/pound, May European rapeseed is up 2.25 euro per mt and February Malaysian palm oil is down .25%. March oats are down 1/2 cents/bushel. February crude oil is up $1.91 per barrel, February ULSD is up $.0495 per gallon, and the March Canadian dollar is down .00160 at .72160. The March U.S. Dollar Index is up .212 at 98.900 and the February Brazilian real is up .00135 at 0.18575.

The oilseed complex is stronger as midday approaches with soybean oil on the highs of the day as the energy markets add to their impressive 2-day recovery on increased geopolitical risks. Growing unrest in Iran is putting their oil export program at risk while developments on the Venezuelan front continue to suggest it's more likely to reduce oil supply in the short term than increase it. With that, crude oil has gained almost $4/barrel from Wednesday's low while diesel has added almost $.12/gallon.

Despite those developments, canola has retreated from its highs of the day (up $12.20/mt at one point) on profit-taking following such a strong week. It had approached the 100-day moving average, likely inspiring some to reduce risk ahead of next week's trip by Prime Minister Carney to China.

Soybeans are remaining firm with another 198,000 mt flash sale announcement to unknown destinations likely helping. Corn and wheat look content with closing out the week on a quiet note ahead of Monday's USDA inspired volatility that's surely to come.

In outside markets, Treasuries turned mixed on a weaker-than-expected December payroll report with the softening interest rates that resulted helping to inspire additional gains in equity markets. The U.S. dollar is adding to early gains and is now trading up to levels not seen since Dec. 10, accelerating off its 25- and 100-day moving averages so far. Precious metals are sharply higher on the payroll news that could lead to lower interest rates and higher inflation.

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